Tariffs...

[ellal]

This is a good one: "Under a bizarre EU law, it is illegal for people to eat pet horses but they are still allowed to eat other types of horses."

Funnily enough in certain parts of Scandinavia they do eat horses that may have been pets...

The joke is that you're allowed to play with your food!

 

[ellal]

I am not confused at all, I was just making the point that when a British bank failed, the British government bailed it out. So the argument that we might have to bail out banks from other EU countries is not a very solid one.

How about you quote the complete sentence: "And yet you appear to be totally confused as to whether you want out of the EU in order to avoid their 'banking crisis', but prefer to share our debts with other countries."

 

[fillyboy]

may with a draft of her agreement.

When May shows it to people, it does not become "their" agreement.

OK, so we're agreed it was Mays agreement, approved by Merkel. I can live with that definition.

 

[JP_]

I don't want to leave the EU, I never have. I think you missed my point.

I was responding to this:

if the UK is still in the EU, why wouldn't they be involved in a bailout, it wouldn't be the first time, would it?

by pointing out that the UK did not call on EU funds, or funds from other EU countries, when it bailed out RBS, so unlikely we'd help Germany bail out DB.

That is all.

 

[fillyboy]

I don't want to leave the EU, I never have. I think you missed my point.

I was responding to this:



by pointing out that the UK did not call on EU funds, or funds from other EU countries, when it bailed out RBS, so unlikely we'd help Germany bail out DB.

That is all.

In 2008/2009 there was a situation that had never before existed, it was almost the collapse of Capitalism. The US allowed several banks to collapse, at this stage nobody even knew the degree of contagion within the worldwide banking system. From memory, I think it was Alastair Darling and Gordon Brown who decided to keep UK banks afloat with cash injections, share purchases, loan guarantees, bond purchases, you name it, it was thrown at them, hundreds and hundreds of billions, maybe trillions, I doubt anyone can put an accurate figure on it and god knows, we're still paying for it now (bankers excluded natch).
Now, at this point, the US and the EU thought we were mad, as did I, but eventually the US and the EU followed our lead and did the same, I suspect it was the right thing to do and fair play to the orchestrators of it.

Since then more money has been pumped into the European Central Bank (I think we're the 3rd largest funder, might be 4th, and we don't have a seat on the board as we're not in the euro), so the ECB may get involved which indirectly means we will be contributing, but forgetting about banks, didn't we 'pony up' when Greece were skint, albeit that was a eurozone problem of which we're not part of.

Listen, if our friends in Europe are decent neighbours and we've got a reasonable trade deal with them, I've no objections to us lending the occasional helping hand. If, on the other hand, they want to play dirty, then f**k em. But, and trust me on this, it will hurt them far more than it will hurt us.

ps. Anyone read Irelands border plans in the event of a hard Brexit announced two days ago, no?, thought not.

 

[JohnD]

OK, so we're agreed it was Mays agreement, approved by Merkel. I can live with that definition.

It was rejected by EU27, including Germany.

You do talk a lot of nonsense.

 

[JP_]

Irelands border plans in the event of a hard Brexit

That's not new though, this was going to happen all along wasn't it?

 

[ellal]

(I think we're the 3rd largest funder, might be 4th, and we don't have a seat on the board as we're not in the euro)

13th actually...

And we contribute only 0.7% of total ECB funds...

So that would be the percentage we would be liable for of any bailout that might or might not happen - if of course we were liable*

And as the UK provides 4.5% to the IMF, it made bail out payments of approx €9bn through that organisation - not via the ECB

In addition: "The UK provided a total of €6.5bn (£5bn) via the EU for two bailouts: €3bn for Ireland in November 2010 and €3.5bn for Portugal in May 2011.
With both Ireland and Portugal now out of their bailout programmes, the UK has not lost any money supporting them at the peak of the crisis."

(Hint: you take out when needed and put in when able to do so )

So I'm right then, we will be involved in future bailouts.

*Funnily enough.

"In 2011 the EU leaders agreed that the UK and other EU countries which are not in the eurozone, should not be part of any future eurozone bailouts.
The eurozone has subsequently established a new bailout fund, paid for by, and benefiting, eurozone countries only."

Hardly a 'numero uno reason' to leave. And you are of course totally misinformed as usual

 

[ellal]

I think you missed my point.
by pointing out that the UK did not call on EU funds, or funds from other EU countries, when it bailed out RBS, so unlikely we'd help Germany bail out DB.

And yet you appeared to agree with filly that we could be involved by simply saying 'unlikely', and also when saying:
"But, bearing in mind that we'll never recover the £45 billion of tax payers money used to bail it out, would you not prefer to share that bill with some other governments?"

If you look at my previous post, you'll see why that won't happen via the EU either way around.

 

[JohnD]

Filly does seem to have a bit of a problem, throwing in made-up claims that are not true.

I suppose it would work among people that will believe anything, as long as it's anti-European.

Did you know, we even had one buffoon on here who actually believed the Straight Bananas story?

 

[noseall]

I suppose it would work among people that will believe anything, as long as it's anti-European.

Sillyboy does seem terribly gullible. Fortunately he has a mate that works in The City.

 

[JP_]

And yet you appeared to agree with filly that we could be involved by simply saying 'unlikely', and also when saying:
"But, bearing in mind that we'll never recover the £45 billion of tax payers money used to bail it out, would you not prefer to share that bill with some other governments?"

If you look at my previous post, you'll see why that won't happen via the EU either way around.

Again, you really misunderstood my post. No need to explain your point of view again, I think we are in agreement.

"Unlikely" - I rarely make sure statements, especially about things that we cannot be sure about!
"would you not prefer to share that bill with some other governments?" - I was not suggesting that this would be the case, I was trying to make the point that IF such a thing did happen, then surely it would be beneficial to the UK to have support from the EU, not a massive hindrance.

That's me done with this topic, seems everything we say is twisted and turned to try to mean something that we never meant.

 

[fillyboy]

The Euro Loons certainly seem to have a lot of time on their hands.

It was rejected by EU27, including Germany.

You do talk a lot of nonsense.

It was rejected by our MP's, it certainly wasn't rejected by the EU27, least of all Germany, they were the authors after all.

13th actually...

And we contribute only 0.7% of total ECB funds...

Our capital key % is shown as 13.6%
https://en.wikipedia.org/wiki/European_Central_Bank
https://www.ecb.europa.eu/ecb/orga/capital/html/index.en.html

Sillyboy does seem terribly gullible. Fortunately he has a mate that works in The City.

And neither of us believe in Unicorns.

 

[ellal]

Our capital key % is shown as 13.6%

Best you look at the actual 'key figure' - paid up capital.

And read the small print...
(from the article you linked to)

"Non-Euro area NCBs are required to pay up only a very small percentage of their subscribed capital"

Keep on digging that hole of yours, filly




Edit: I'll do the maths for you

Add the paid up figures of...

Eurozone countries 7,619,884,851.40

And non Eurozone countries 120,192,083.17

Total EU figure = 7,740,076,934.21

Now take the UK paid up figure 55,509,147.81

Divide the UK figure by the Total EU figure and you get 0.007171

Multiply by 100 and you get the percentage of paid up capital that the UK has in the ECB - 0.7171%

Simples

 

[Mottie]

That's me done with this topic, seems everything we say is twisted and turned to try to mean something that we never meant.

And not just this topic either...........